CrossGen Wealth LLC Takes $2.62 Million Position in Marathon Petroleum Corporation $MPC

CrossGen Wealth LLC bought a new stake in Marathon Petroleum Corporation (NYSE:MPC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 16,076 shares of the oil and gas company’s stock, valued at approximately $2,615,000. Marathon Petroleum makes up about 2.3% of CrossGen Wealth LLC’s investment portfolio, making the stock its 13th biggest holding.

A number of other hedge funds also recently bought and sold shares of the business. Navalign LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter worth about $30,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Marathon Petroleum in the 4th quarter valued at about $31,000. Berbice Capital Management LLC grew its position in Marathon Petroleum by 100.0% in the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 100 shares in the last quarter. WFA of San Diego LLC bought a new stake in Marathon Petroleum during the second quarter worth approximately $33,000. Finally, Ares Financial Consulting LLC bought a new stake in Marathon Petroleum during the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the transaction, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This represents a 27.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MPC has been the subject of several analyst reports. Citigroup raised their price objective on Marathon Petroleum from $243.00 to $257.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Mizuho raised their price target on Marathon Petroleum from $224.00 to $284.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Morgan Stanley lifted their price objective on shares of Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Piper Sandler boosted their price objective on shares of Marathon Petroleum from $197.00 to $228.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Finally, Raymond James Financial raised their target price on shares of Marathon Petroleum from $285.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $272.94.

Key Stories Impacting Marathon Petroleum

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Wall Street’s broadly bullish analyst views suggest investors still see upside potential in Marathon Petroleum, even after its strong recent performance. Is It Worth Investing in Marathon Petroleum (MPC) Based on Wall Street’s Bullish Views?
• Positive Sentiment: One market analysis said MPC could be about 5.5% undervalued, which may attract value-focused buyers if investors believe the refining business remains resilient. Marathon Petroleum (MPC) Stock Could Be 5.5% Undervalued Despite Its Strong Run
• Neutral Sentiment: Recent coverage comparing MPC with Delek and other refiners is keeping attention on valuation and earnings revisions, but it does not point to a clear near-term catalyst on its own. Delek vs. Marathon Petroleum: Which Stock Offers Better Refining Bet?
• Negative Sentiment: A trading-day recap noted that MPC declined more than the broader market, signaling some profit-taking or weaker sentiment in the near term. Marathon Petroleum (MPC) Sees a More Significant Dip Than Broader Market: Some Facts to Know
• Negative Sentiment: Oil-market headlines about the Strait of Hormuz reopening could weigh on refining and energy sentiment if traders expect less geopolitical support for crude prices. Marathon Petroleum (MPC) Faces A New Oil Reality As The Strait Of Hormuz Reopens

Marathon Petroleum Price Performance

MPC opened at $243.11 on Friday. The business has a fifty day moving average of $244.96 and a 200 day moving average of $214.12. The stock has a market cap of $70.97 billion, a P/E ratio of 15.87, a PEG ratio of 0.38 and a beta of 0.52. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 52-week low of $158.00 and a 52-week high of $272.46.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.91. The business had revenue of $34.20 billion for the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The business’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.24) earnings per share. As a group, sell-side analysts anticipate that Marathon Petroleum Corporation will post 31.35 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were issued a dividend of $1.00 per share. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a yield of 1.6%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 26.11%.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.